• Sony announced its new L2 blockchain atop Ethereum called Soneium.
• Soneium will use the optimistic rollup technology and Optimism’s OP Stack.
• Soneium plans to onboard Sony products like Sony Music in the next two years.

Sony, the Japanese tech giant, is launching a new blockchain called Soneium. The testnet is set to go live soon, as interest in blockchain technology grows and companies look to build decentralized products.

Sony Block Solutions Labs, a partnership between Sony Group and Singapore-based Startale Labs, confirmed Friday on launching Soneium, the new layer 2 network on the Ethereum network. According to reports, this new L2 network will utilize optimistic rollup technology.

Optimistic rollups are basically networks that bank on the security and stability of their parent blockchains (in this case Ethereum). This means they use the parent chain’s consensus mechanism instead of creating their own. However, these L2 scaling solutions boost a blockchain’s scalability by processing transactions off-chain. As a result, Soneium will allow its users to transact on Ethereum, at lower costs.

The report states that Soneium will use the Optimism netwo…

The post Sony’s Soneium: A New Layer-2 Solution for Ethereum appeared first on Coin Edition.

• Sony announced its new L2 blockchain atop Ethereum called Soneium.
• Soneium will use the optimistic rollup technology and Optimism’s OP Stack.
• Soneium plans to onboard Sony products like Sony Music in the next two years.

Sony, the Japanese tech giant, is launching a new blockchain called Soneium. The testnet is set to go live soon, as interest in blockchain technology grows and companies look to build decentralized products.

Sony Block Solutions Labs, a partnership between Sony Group and Singapore-based Startale Labs, confirmed Friday on launching Soneium, the new layer 2 network on the Ethereum network. According to reports, this new L2 network will utilize optimistic rollup technology.

Optimistic rollups are basically networks that bank on the security and stability of their parent blockchains (in this case Ethereum). This means they use the parent chain’s consensus mechanism instead of creating their own. However, these L2 scaling solutions boost a blockchain’s scalability by processing transactions off-chain. As a result, Soneium will allow its users to transact on Ethereum, at lower costs.

The report states that Soneium will use the Optimism netwo…

The post Sony’s Soneium: A New Layer-2 Solution for Ethereum appeared first on Coin Edition.